Transpower trims interim dividend as reduced regulated revenue eats into earnings

Thu, 25 Feb 2016

By Paul McBeth Feb. 25 (BusinessDesk) - Transpower will pay a smaller dividend to the government because the state-owned national grid operator's earnings were eroded by lower regulated revenue for its transmission business. The Wellington-based SOE will pay $64.8 million, or 5 cents per share, to the government on March 10, less than the $75.2 million, or 6 cents, dividend a year earlier. Underlying profit, which strips out fair value movements in the company's financial instruments, fell 8.1 percent to $99 million in the six months end...

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